The capitalization of 14 US Bitcoin miners reached $22.8 billion. This is stated in the#JPMorganreport. Writes #Coindesk.
American miners increased their share of the total hashrate of the Bitcoin network by about 1%. And now these 14 companies account for about 23.8% of the hashrate.
Despite market volatility and the debilitating BTC price range, investors reacted positively to the news of Core Scientific's $3.5 billion deal with CoreWave.
JPMorgan's report states that the rise in market capitalization to $22.8 billion is a record for mining companies. Specifically, Core Scientific (CORZ) shares rose +117% in the first two weeks of June.
Shares of most other public mining companies also showed gains. The exception was Argo Blockchain (ARBK), whose shares showed -7%.
JPMorgan also noted a decrease in mining difficulty. According to analysts, this figure continues to fall after the Bitcoin halving in April 2024. Market players are gradually adapting.
The mining market now looks extremely attractive, gradually becoming the territory of the “red ocean”. Everyone wants to supply BTC to issuers of spot Bitcoin ETFs and more. The actions of market players depend on the circumstances. Mining company Riot Platforms increased the number of shares of competitor Bitfarms at its disposal to 14%. These actions reflect #Riot's desire to carry out a hostile takeover of Bitfarms, despite the fact that#Bitfarmsis trying to defend itself (they want to dilute the hostile company's stake through the issue of new shares).
